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Friday's cash registers ring in holiday shopping season
Holiday shopping Retailers wishing for robust sales
November 27, 1997
Web posted at: 2:01 p.m. EST (1901 GMT)(CNN) -- Crowded stores, drivers dueling for the last parking space and the seemingly forever wait for an audience with an overworked, tired cashier. Friday kicks off this frustrating pre-Christmas shopping ritual.
Retailers hope consumer confidence and a healthy economy reverse three months of lackluster sales, and predict a 5 percent to 6 percent increase over last year's holiday spending.
A L S O :
Poll: No holiday buying binge
"Christmas itself represents, meaning the November-December time frame, almost half our total sales for the year," Mike Madden of Toys 'R' Us told CNN.
Retailers call it "Black Friday," referring to a business running "in the black" after profitable sales.
Traditionally, about one-third of holiday shoppers flock to the malls and stores the day after Thanksgiving, said Dan Bethlahmy, retail marketing director for American Express. Most shoppers are expected to make their purchases in department stores, followed by discount department and clothing stores.
Retailers predict that toys, jewelry, women's apparel and home furnishings will be the hottest holiday items.
"The video game business is going to be hot," said Michael Goldstein, chief executive officer of Toys 'R' Us Inc. The hand-held Nintendo Game Boy, the Nintendo 64 and the Sony Playstation should all do well, he said.
Toys 'R' Us stocks up for the season Toy buying during past holiday seasons has traditionally been framed around one hot toy, like last year's "Tickle Me Elmo." This year will be different.
"The company is seeing a wider variety of popular toys," a spokeswoman for F.A.O. Schwarz said.
Toys spun off from movies and television shows likely will top many children's wish lists. Toy store shelves are full of the typical "Star Wars" and Disney items, as well as toys from the animated movie, "Anastasia."
Still time for a turnaround
Sales in September, October and the first part of November have been fairly disappointing, retailers said.
Warmer-than-normal weather in September, coupled by a world mourning for Princess Diana, kept many shoppers from making their normal early-fall purchases during September.
October sales were stronger. But a report recently released by BT Alex Brown Inc. said November sales through last week were below expectations. The next few days could turn the business quarter around.
"It is worth noting that sales over this upcoming week carry an unusually large weight toward the full-month results," the report said.
One factor that could skew the season's sales results is the growing trend among baby boomers to travel, or plan for entertainment, instead of loading up on holiday gifts.
"People are going away from acquisitions and more toward experiences," Bethlahmy said. "People are taking their kids to Hawaii, and that's the 'present.' There's a shift away from the 1980s buying of the big-type of products."
Correspondent Norma Quarles and Reuters contributed to this report.
Related stories:
- Holiday shopping polls don't always agree - December 17, 1996
- Holiday shopping goes high-tech - December 5, 1996
- Christmas shoppers out in force - November 30, 1996
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